Doha – Mubasher: Ahlibank, which is listed on Qatari bourse, was cleared by shareholders, in their ordinary general meeting held Tuesday, to launch a medium-term notes programme at a value not exceeding $2 billion (QAR 7.3 billion).
The bank’s total outstanding/due bonds do not exceed at any time its capital, unless such an increase is secured by a local bank while complying with articles No. 171, 172 and 173 of the Corporate Law and the board of directors is mandated accordingly.
The bank’s extraordinary general meeting also endorsed the board’s proposal to raise the cap for foreign ownership in the bank for natural and legal persons to 3% from 2%.
The EGM also approved a recommendation to increase the number of the board of directors to nine.
During the ordinary general meeting, shareholders gave a nod to distributing dividends for FY15 at 20%; 15% in cash and 5% as bonus shares, while eligible shareholders will be those of record on the OGM date.
